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3232Proof-of-Reserves Are at ‘Best Incomplete, at Worst Misleading and Deceptive’ Says Crypto Analyst Martin Hiesboeck
https://www.digit.info/proof-of-reserves-are-at-best-incomplete-at-worst-misleading-and-deceptive-says-crypto-analyst-martin-hiesboeck/
Fri, 02 Dec 2022 04:30:05 +0000https://www.digit.info/2022/12/02/proof-of-reserves-are-at-best-incomplete-at-worst-misleading-and-deceptive-says-crypto-analyst-martin-hiesboeck/Read more]]>While many crypto exchanges have seemingly embraced the use of proof-of-reserves (PoR) to showcase their transparency and reassure nervous users, crypto analyst Martin Hiesboeck insists such so-called proofs are susceptible to manipulation or misrepresentation. He added that PoRs alone are not a suitable method of verifying an exchange’s reserves because they do not “account for […]
While many crypto exchanges have seemingly embraced the use of proof-of-reserves (PoR) to showcase their transparency and reassure nervous users, crypto analyst Martin Hiesboeck insists such so-called proofs are susceptible to manipulation or misrepresentation. He added that PoRs alone are not a suitable method of verifying an exchange’s reserves because they do not “account for […]